Thai stocks tumbles, SET drops nearly 6%

Thailand’s stock exchange, the SET, plunged yesterday along with the region’s other bourses. The index dropped amid concerns over the growing global Covid-19 coronavirus pandemic.

The SET dived 74.57 points, or nearly 6%, to 1,175.32 points. This all happened shortly after the open in a turnover of 9 billion baht. The SET50 index, Thailand’s top 50 listed companies, faired even worse, dropping 59.6 points, or 7.24%, to 763.41.

Asian stocks followed suit, with Australia’s S&P and ASX 200 entered a bear market, having fallen more than 20% from its recent highs. Japan’s Nikkei 225 closed down 2.3%. Hong Kong’s Hang Seng closed down 0.6% and China’s Shanghai Composite lost nearly 1%.

The plunges are in line with markets around the world which were in the red after the World Health Organisation upgraded the designation of the coronavirus a “pandemic”.

Related news

Airports of Thailand (AoT) shares were the biggest loser as it shed 5 baht, or 8.26%, to 55.50, while PTT (the Thai petrochemical giant) shares dropped 1.50 baht, or 5.13%, to 27.75.

SOURCE: Bangkok Post | CNN

Covid-19 NewsEconomy NewsThailand News

Thaiger Talk

Join the conversation and have your say on Thailand news published on The Thaiger.

Thaiger Talk is our new Thaiger Community where you can join the discussion on everything happening in Thailand right now.

Please note that articles are not posted to the forum instantly and can take up to 20 min before being visible. Click for more information and the Thaiger Talk Guidelines.

Click to comment

Leave a Reply

Thaiger

If you have story ideas, a restaurant to review, an event to cover or an issue to discuss, contact The Thaiger editorial staff.

Related Articles

Leave a Reply